Fertilizers

HOUSTON (ICIS)–The US can maintain nearly all the plastic and chemical tariffs it imposed this year after an appeals court granted on Thursday the government's request to stay the judgment of a lower court. The stay will remain in place while the case is under consideration by the US Court of Appeals for the Federal Circuit. Earlier, the US lost a judgment over its tariffs in the US Court of International Trade. That lower court ruled that the president exceeded its authority when it imposed tariffs under the International Emergency Economic Powers Act (IEEPA). These IEEPA tariffs included nearly all of the duties that the US imposed in 2025 on imports of commodity plastics and chemicals. Had the appeals court rejected the government's request for a stay, then the US would have had 10 calendar days to withdraw the tariffs it imposed under IEEPA. The tariffs covered by the ruling include the following: The 10% baseline tariffs against most of the world that the US issued during its so-called Liberation Day event on 2 April. These include the reciprocal tariffs that were later paused. The US issued the tariffs under Executive Order 14257, which intended to address the nation's trade deficit. The tariffs that the US initially imposed on imports from Canada under Executive Order 14193. These were intended to address drug smuggling. The US later limited the scope of these tariffs to cover imported goods that do not comply with the nations' trade agreement, known as the US-Mexico-Canada Agreement (USMCA). The tariffs that the US initially imposed on imports from Mexico under Executive Order 14194. These were intended to address illegal immigration and drug smuggling. Like the Canadian tariffs, these were later limited to cover imported goods that did not comply with the USMCA. The 20% tariffs that the US imposed on imports from China under Executive Order 14195, which was intended to address drug smuggling. Because the appeals court granted the government's request for a stay, the US can maintain the IEEPA tariffs. The ruling did not cover sectoral tariffs imposed on specific products like steel, aluminium and auto parts, and it does not cover the duties that the US imposed on Chinese imports during the first term of US President Donald Trump. IMPLICATIONS OF THE RULINGIf the ruling is upheld by the higher courts, it could bring some imports of plastics and chemicals back to the US while lowering costs of other products. While the US has large surpluses in many plastics and chemicals, it still imports several key commodities. US states that border Canada import large amounts of polyethylene (PE) and other plastics from that country because it is closer than the nation's chemical hubs along the Gulf Coast. Other significant imports include base oils, ammonia, polyethylene terephthalate (PET), methylene diphenyl diisocyanate (MDI), methanol and aromatics such as benzene, toluene and mixed xylenes (MX). RULING COULD REDIRECT CHINESE EXPORTS OF PLASTIC PRODUCTSThe IEEPA tariffs of the US caused countries to redirect exports of plastics and chemicals to other markets, particularly to Europe. The result depressed prices for those plastics and chemicals. If the ruling holds, some of those exports could return to the US and reduce the quantity of exports arriving in Europe. The IEEPA tariffs had a similar effect on the plastic products exports by China. Those exports were redirected to other countries, especially southeast Asia. These redirected shipments flooded those countries with plastic goods, displacing local products and lowering domestic demand for the plastics used to make those products. If the ruling is restored by higher courts, then it could direct many of those shipments back to the US, although they would unlikely affect shipments of auto parts. Those shipments are covered by the sectoral tariffs, and the court ruling did not void those tariffs. RULING REMOVES BASIS FOR RETALIATORY TARIFFS AGAINST US PLASTICS, CHEMSChina had already imposed blanket tariffs in retaliation to the IEEPA tariffs the US imposed on its exports. China unofficially granted waivers for US imports of ethane and PE, but those for liquefied petroleum gas (LPG) were still covered by the duty. China relies on such imports as feedstock for its large fleet of propane dehydrogenation (PDH) units, which produce on-purpose propylene. If upheld, the ruling could restore many of those exports and improve propylene margins for those PDH units. The EU was preparing to impose retaliatory tariffs on exports of nearly every major commodity plastic from the US. Other proposals would cover EU imports of oleochemicals, tall oil, caustic soda and surfactants from the US. Canada also prepared a list of retaliatory tariffs that covered US imports of PE, polypropylene (PP) and other plastics, chemicals and fertilizers. If the ruling holds, it would remove the basis for the proposed tariffs of Canada and the EU as well as the existing ones already imposed by China. RULING WOULD NOT ELIMINATE THREAT OF FUTURE TARIFFSEven if the higher courts uphold the ruling and bars tariffs under IEEPA, the US has other means to impose duties that are outside of the bounds of the ruling. Section 122 of the Trade Act of 1974. Such tariffs would be limited to 15%, could last for 150 days and address balance of payment deficits. Tariffs imposed under the following statutes would require federal investigations, which could delay them by several months. Section 338 of the Tariff Act of 1930. The president can impose tariffs of up to 50% against countries that discriminate against US commerce. Section 301 of the Trade Act of 1974, which addresses unfair trade practices. This was the basis on the tariffs imposed on many Chinese imports during the peak of the trade war between the two countries. Section 232 of the Trade Expansion Act of 1962, which addresses imports with implications for national security. Trump used this provision to impose tariffs on steel and aluminum. The US has started Section 232 on the following imports: Pharmaceutical and active pharmaceutical ingredient (APIs) – Section 232 Semiconductors and semiconductor manufacturing equipment – Section 232 Medium and heavy-duty trucks, parts – Section 232 Critical minerals – Section 232 Copper – Section 232 Timber and lumber – Section 232 Commercial aircraft and jet engines – Section 232 Ship-to-shore cranes assembled in China or made with parts from China – Section 301 Shipbuilding – Section 301 The case number for the appeal is 2025-1812. The original lawsuit was filed in the US Court of International Trade by the plaintiffs VOS Selections, Genova Pipe, Microkits, FishUSA and Terry Precision Cycling. The case number is 25-cv-00066. Thumbnail Photo: A container ship, which transports goods overseas. (Image by Costfoto/NurPhoto/Shutterstock) Visit the ICIS Topic Page: US tariffs, policy – impact on chemicals and energy

29-May-2025

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 23 May. Europe PE, PP sentiment shifts positive for some players on US-China tariff climbdownSentiment is shifting firmer for some polyethylene (PE) and polypropylene (PP) players in the past week, driven largely by the de-escalation of the US-China tariff war. Germany, Europe chemicals bounce back, but pessimism persistsGermany and Europe’s chemical sector bounced back strongly in the first quarter of 2025, but the outlook for the rest of the year remains clouded by fears over the impact of the trade war. Germany’s chemical industry remains weak, despite Q1 ‘sprint’ – VCI economistThe strong performance of Germany’s chemical-pharmaceuticals industry in the 2025 first quarter cannot mask the underlying weakness in chemicals, according to the chief economist of German chemical producers’ trade group VCI. EU backs tariff hike for fertilizers from Russia and BelarusThe European Parliament made the decision to impose higher tariffs on fertilizers and certain agricultural products from Russia and Belarus on Thursday. US to hit EU imports with 50% tariffs starting 1 JuneUS President Donald Trump has warned of plans to impose a  50% tariff on imports from the EU starting on 1 June.

26-May-2025

SAO PAULO (ICIS)–Brazil’s state-owned energy major Petrobras and chemicals producer Unigel have finally signed an agreement to end contractual disputes related to the two fertilizers plants in the country’s north which had been leased to Unigel. Late on 22 May, the companies said the two fertilizers plants in the states of Bahia and Sergipe (northeast) would thus return to Petrobras’ portfolio. The agreement must still be ratified by Brazil’s Arbitral Tribunal. “The agreement provides for the reinstatement of Petrobras' possession of the fertilizer plants (FAFENs) in Bahia and Sergipe, and the resumption of operations by Petrobras through a bidding process for the contracting of operation and maintenance services, in compliance with applicable governance practices and internal procedures,” said Petrobras. “Petrobras aims to resume activities in the fertilizer segment to create value through the production and commercialization of nitrogen-based products, while aligning with the oil and natural gas production chain and the energy transition.” Meanwhile, Unigel said the agreement represented the “definitive resolution of the contractual disputes” and litigation existing between the companies due to disagreements about the lease for the two plants. The deal represents the withdrawal of the company from the fertilizers sector altogether. The Camacari plant in Bahia state can produce 475,000 tonnes/year of ammonia and 475,000 tonnes/year of urea. The plant in Laranjeiras, Sergipe, can produce 650,000 tonnes/year of urea, 450,000 tonnes/year of ammonia and 320,000 tonnes/year of ammonium sulphate (AS). FAILED FERTILIZERS ADVENTURE The agreement puts an end to the 10-year lease for the plants signed by Unigel and Petrobras in 2019. While successful at first, as fertilizers prices shot up immediately after the first wave of the COVID-19 pandemic, prices started to fall in 2022 though while prices for natural gas rose sharply. In 2024, Unigel idled the two plants as high prices for gas and low selling prices made operations unprofitable, it said. Along the way, Petrobras accused Unigel of not fulfilling the terms and conditions of what they had agreed. Moreover, from 2022, woes at Unigel’s petrochemicals divisions – mostly producing styrenics – added to those in fertilizers. By the end of 2023, the company was forced to enter a debt restructuring process from which it only emerged in 2024. Earlier in May, Unigel presented its first comprehensive quarterly financial metrics since 2023, when it entered the restructuring process. Brazil’s financial regulations provide for such a provision for companies in financial distress. While it posted small earnings before interest, taxes, depreciation, and amortization (EBITDA), the producer continued haemorrhaging money in the first quarter, with sales falling year on year and posting a net loss of Brazilian reais (R) 209 million ($37 million). ($1 = R5.71)

23-May-2025

HOUSTON (ICIS)–Chemical plants along the US Gulf Coast will face another active hurricane season, but any potential disruptions will be partially if not entirely offset by excess global capacity and weaker demand growth. Meteorologists expect up to 10 hurricanes in the Atlantic basin during this year's hurricane season, which starts in June and lasts through November The global supply glut of plastics and chemicals will continue in 2025 and beyond Global plastic and chemical demand will weaken because of tariffs and a prolonged manufacturing downturn BUSY HURRICANE SEASONMeteorologists expect a busy hurricane season as shown in the following table: AccuWeather CSU US 30-Year Average Hurricanes 7-10 9 6-10 7 Major hurricanes 3-5 4 3-5 3 TOTAL 13-18 17 13-19 14 *Major hurricanes have wind speeds of at least 111 miles/hour (178 km/hour) Sources: AccuWeather, Colorado State University (CSU), US National Oceanic and Atmospheric Administration (NOAA) Hurricanes directly affect the chemical industry because plants and refineries shut down in preparation for the storms, and they sometimes remain down because of damage. Power outages can last for days or weeks. Hurricanes shut down ports, railroads and highways, which can prevent operating plants from receiving feedstock or shipping out products. Most US petrochemical plants and refineries are on the Gulf Coast states of Texas and Louisiana, making them prone to hurricanes. Other plants and refineries are scattered farther east in the states of Mississippi, Alabama and Florida, a peninsula that is also a hub for phosphate production and fertilizer logistics. Hurricanes can shut down LNG terminals, most of which are concentrated along the Gulf Coast. If the outages last long enough, it can cause a local glut of natural gas and a decline in prices. US prices for ethane tend to rise and fall with those of natural gas, so a prolonged shutdown of LNG terminals would lower feedstock costs – especially if the hurricane also shuts down ethane crackers. Petrochemical plants outside of the US are becoming increasingly reliant on that country's exports of ethane, ethylene and liquefied petroleum gas (LPG), a feedstock for crackers and for propane dehydrogenation (PDH) units. Most of these terminals are on the Gulf Coast, leaving them vulnerable to disruptions caused by hurricanes. HOTTER SUMMER COULD REDUCE THROUGHPUT AT GAS PLANTSExtremely high temperatures can reduce the throughput of Texan natural gas processing plants, which extract ethane and other natural gas liquids (NGLs) from raw natural gas. Such reductions took place in 2024 during the peak summer months of August and September, when temperatures are typically at their highest in many parts of Texas. Texas has natural gas processing plants in the western and fractionation hubs in the eastern parts of the state. For both regions, summer temperatures should be 1-2°F higher than normal, according to AccuWeather, a meteorology firm. That amounts to 0.6-1.0°C higher. CHEM OVERCAPACITY GROWS BIGGERThe effect of any shutdowns of chemical plants will be blunted by excess global capacity. Companies have continued to start up new plants, despite the oversupply of plastics and chemicals. ICIS FORECASTS WEAKER 2025 DEMAND GROWTHAny disruptions to chemical production would take place amid weaker demand growth. ICIS forecasts that 2025 demand growth for most commodity plastics will slow from 2024 and remain well below levels in 2018 and earlier. The following chart ICIS past demand growth rates and forecasts for 2025. Source: ICIS Growth rates are slower in part due to uncertainty caused by US trade policy. ICIS expects global GDP to expand by 2.2% in 2025, down from 2.8% in 2024. Global manufacturing is expected to contract globally. The following breaks down forecasts for national purchasing managers' indices (PMI). Anything below 50 indicates contraction. Sources: Institute for Supply Management, S&P Global and JP Morgan RESUMPTION OF TARIFFS WOULD FURTHER WEAKEN DEMANDIn July, the US could resume imposing its higher reciprocal tariffs against much of the world, including the EU, following a 90-day pause announced in April. The EU is preparing a list of retaliatory tariffs that covers many US imports of commodity chemicals and plastics, including the following: Caustic soda Acetic Acid Vinyl acetate monomer (VAM) Polyethylene (PE) Polypropylene (PP) Polystyrene (PS) Acrylonitrile butadiene styrene (ABS) Polyvinyl chloride (PVC) Polyethylene terephthalate (PET) The US and EU may extend the pause or reach a trade agreement that would do away with the need for retaliatory tariffs. But if the two sides fail to reach an agreement, then the EU's retaliatory would likely reduce demand for US plastics and chemicals. Demand for US plastics and chemicals could take another hit in mid-August if the US and China resume triple-digit tariffs following their 90-day pause. The pause would expire right before hurricane season reaches its peak in the US. Insight article by Al Greenwood Thumbnail shows a hurricane. Image by NOAA.

22-May-2025

LONDON (ICIS)–The European Parliament has voted to support changes to the EU’s carbon border adjustment mechanism (CBAM) to ease the administrative burden on 90% of importers. MEPs on Thursday voted to adopt a new “de minimis” mass threshold of 50 tonnes, which will exempt most importers who import only small quantities of CBAM goods, such as SMEs and individuals. At the same time, environmental objectives would remain achievable because 99% of total CO2 emissions from imports of iron, steel, aluminium, cement and fertilizers would still be covered by the rules, the European Parliament said in a statement. “This approach enables us to simplify matters for companies without dismantling or weakening the CBAM,” said rapporteur Antonio Decaro, who is chair of the environment, climate and food safety committee. “We will continue to work quickly to bring legal clarity and certainty to all CBAM stakeholders,” Decaro added. The European Parliament is now ready to start negotiations with the European Council on finalizing the legislation, it said.

22-May-2025

LONDON (ICIS)–The European Parliament made the decision to impose higher tariffs on fertilizers and certain agricultural products from Russia and Belarus on Thursday. The new rates are expected to come into effect from 1 July, to give stakeholders time to prepare for the changes. The move is a significant one, aimed at addressing both food security concerns within the EU and limiting financial resources available to Russia amid its ongoing conflict with Ukraine. Tariffs on nitrogen-based fertilizers will increase gradually over three years, starting from 6.5% + €40/tonne from 1 July 2025 and potentially reaching around 100%. This steep rise in tariffs is designed to make trade economically unfeasible. An additional duty of 50% will be applied to specific farm produce imported from these countries. EU tariffs for urea, AN, CAN and UAN of Russian origin Time period Proposed tariff From 1 July 2025 until 30 June 2026 6.5% ad valorem + €40/tonne From 1 July 2026 until 30 June 2027 6.5% ad valorem + €60/tonne From 1 July 2027 until 30 June 2028 6.5% ad valorem + €80/tonne From 1 July 2028 6.5% ad valorem + €315/tonne ad valorem "according to the value" The primary goal of these tariffs is twofold: To safeguard EU food security by reducing dependency on imports that may be compromised due to geopolitical tensions. To limit the revenue streams that support Russian military operations in Ukraine. These measures could lead to increased prices for fertilizers and affected agricultural products within the EU, impacting farmers’ production costs. There may also be shifts in supply chains as producers seek alternative sources or adjust their strategies in response to higher import costs. This action reflects broader efforts by the EU to respond strategically to international conflicts while ensuring stability within its own markets. Thumbnail image source: Shutterstock

22-May-2025

Hals Agro became the second company to inject biomethane into Ukraine’s gas grid Second plant in Kyiv to double capacity by end of 2025 amid planned first exports EU certification key to unlocking export potential LONDON (ICIS)– Ukrainian agribusiness “Hals Agro” plans to begin exporting biomethane to the EU and double its production output to 6mcm/year by the end of 2025. Speaking to ICIS Mariia Bielozerskykh, assistant to Hals Agro’s CEO Serhiy Kravchuk said that Ukraine’s gas transmission system served as a conduit for Russian gas flows to Europe, but “today that same infrastructure holds the potential to be repurposed for the delivery of domestically produced green gas to both Ukrainian and European markets.” BIOMETHANE PRODUCTION IN CHERNIHIV In December 2024, Hals Agro became the second Ukrainian company after Vitagro Group to inject biomethane of its own production to the Ukrainian gas transportation system and inject it into Ukrainian underground gas storage facilities. The company’s first plant in Chernihiv, launched in 2023, currently supplies around 3mcm of biomethane made from “manure, sugar beet pulp and corn silage” per year. A second plant, now under construction, in Kyiv, is projected to bring total output to 6mcm/year and “remains on schedule for commissioning by the end of this year, coinciding with our first exports of biomethane to the European Union,” the company confirmed to ICIS. Abundant feedstock supplies generated from cereal cultivation, sugar processing, dairy farming, and livestock allows Hals Agro to turn organic waste into renewable gas and digestate, which in turn returns to the soil as fertilizer. As such, biomethane presents the opportunity to “reduce dependence on imported fuels while fostering a truly circular economy.” SUPPLY SCALABILITY DEPENDS ON EU INTEGRATION Hals Agro’s planned production scale-up coincides with the initial wave of Ukrainian biomethane exports to the EU, as demand for renewable gases rises under the REPowerEU strategy. The company aims to begin exports to the EU by the end of 2025 but as Georgii Geletukha, head of the Bioenergy Association of Ukraine (UABIO) warned last week, further exports hinge on regulatory alignment and export certification. Namely integration into the EU’s Union Database (UDB) for renewable gases. “Certification through the Union Database will enable us to demonstrate the quality and sustainability of our product,” said Bielozerskykh, adding that a “robust and predictable market” must be developed to support Ukraine’s biomethane sector. To that end, “firm, long-term commitments from the EU concerning biomethane imports – together with streamlined certification procedures, cross-border trade mechanisms and reliable guarantees of origin,” are needed to “send a clear market signal and encourage investment,” according to Bielozerskykh. POST-WAR RECONSTRUCTION Ukraine faces a record 4–6bcm gas import need this year due to production losses and low reserves. With forward contracts showing no summer softening, domestic biomethane could emerge as a valuable, sustainable alternative over dependence on fossil fuel imports, especially if producers such as Hals Agro can scale up. Looking ahead to Ukrainian reconstruction, Bielozerskykh stressed that “decentralized energy solutions will be essential for rebuilding rural communities and ensuring a reliable energy supply in areas where centralized infrastructure has been damaged or destroyed” by Russian missile attacks. At the Danish-Ukrainian agro-technological business conference in April, Oleh Ryabov, head of renewable energy at Hals Agro, emphasized that expanding biomethane production could shift the focus in Ukraine away from grain exports to food and feed production, turning “traditional agrarian regions [into] energy-profitable centers of a modern energy and agro-industry.” ICIS has expanded its coverage of the emerging biomethane market via the development of the topic page “European biomethane: data, news and analysis”. Click here to access

21-May-2025

SAO PAULO (ICIS)–Here are some of the stories from ICIS Latin America for the fortnight ended on 16 May. NEWS Brazil’s Braskem swings to profit in Q1 but global petchems issues remainBraskem swung to a net profit in the first quarter, year on year, but sales and earnings fell slightly as the global petrochemicals downturn continues, management at the Brazilian polymers major said on Monday. Braskem-Idesa launches its ethane import terminal in MexicoBraskem-Idesa (BI) officially launched the Terminal Quimica Puerto Mexico (TQPM) on Wednesday, according to a notice from the company. Brazil's Unipar Q1 metrics show start of recovery, but further protectionism needed – execsUnipar’s Q1 sales and earnings rose strongly, year on year, despite the prolonged global petrochemicals downturn, weather-related disruptions at its Argentine operations, and lower self-generated energy availability in Brazil due to grid operator restrictions, executives the Brazilian chemicals producer said on Friday. Brazil’s Unigel small earnings save day in Q1; deal with Petrobras imminent ‘at no cost’ Unigel’s Q1 low earnings at Brazilian reais (R) 23 million ($4.0 million) represented, however, a recovery from negative earnings of R29 million in the same quarter of 2024, the Brazilian styrenics and acrylics producer said on Friday. Brazil’s Unigel still planning exit from fertilizers but may mull Petrobras plans for northern facilitiesUnigel could evaluate plans set out by Petrobras for the fertilizers plants in the northern states of Bahia and Sergipe which were leased to the Brazilian chemicals producer until this month, a spokesperson for Unigel said to ICIS. INSIGHT: Mexico’s automotive tariffs raise specter of recession, rest of LatAm more resilientMexico remains the potential largest victim of the change in US trade policy, but practically no country in the world would be spared from an impact, analysts said this week. INSIGHT: Brazil’s Lula visit to China bears fruit with multi-billion dealsBrazilian President Luiz Inacio Lula da Silva had already got several investment deals in the bag midway through his five-day state visit to China – among others, Envision Group has committed $1.0 billion in Latin America’s largest economy to produce sugarcane-based sustainable aviation fuel (SAF). MOVES: Mexico’s trade group ANIQ appoints Jose Carlos Pons as presidentMexico's chemicals trade group ANIQ has appointed Jose Carlos Pons as president for the 2025-2027 term amid intensifying pressures from trade disputes with the US and broader regional challenges. Mexico’s chemicals Q1 output down 1.4% amid wider industrial fallsMexico’s chemicals output fell by 1.4% in the first quarter (Q1), year on year, but production of plastics and rubbers rose healthily, the country’s statistical office Inegi said. Argentina’s fall in inflation further boosts Milei’s cause, but sustained success harder to come byArgentina’s annual rate of inflation fell further in April to 47.3%, down from 56% in March, according to the country’s statistical office Indec, in another boost to President Javier Milei drastic economic measures. IFA '25: Brazil Potash pushes to 'lock-in funding this year'Muriate of potash (MOP) mine developer Brazil Potash continues its pursuit of investors at the International Fertilizer Association (IFA) annual conference in Monte Carlo. Colombia’s fiscal woes to grow on lower crude prices, hit Petro’s pre-election spending plansPotentially lower crude oil prices in coming months will dent Colombia’s Treasury ability to collect proceeds from the key income-generator sector, which is dominated by state-owned Ecopetrol.  PRICINGLatAm PP domestic, international prices unchanged on sufficient supply, stable to soft demandDomestic and international polypropylene (PP) prices were unchanged this week across Latin American countries. LatAm PE domestic, international prices steady on stable demand, ample supplyDomestic and international polyethylene (PE) prices were assessed as steady this week across the region. LatAm PE domestic prices fall on the back of competitive imports from the USDomestic polyethylene (PE) prices fell across Latin American countries on the back of competitive offers from the US. LatAm PP domestic prices steady to lower on cheaper imports and feedstocksDomestic polypropylene (PP) prices were assessed as steady to lower across Latin American countries on the back of lower feedstock costs and competitive offers from abroad.

19-May-2025

MUMBAI (ICIS)–India’s merchandise exports in April grew by 9% year on year to $38.5 billion, while the trade deficit for the month widened to $26.4 billion due to high imports of petroleum products, official data showed. The trade deficit in March 2025 was $21.5 billion, according to data from the Ministry of Commerce. “Last year, there were many problems. Trade route was a big problem with ships forced to avoid the Red Sea. There were supply issues. Cost of transport and insurance increased. But Indian exporters have shown that they have achieved resiliency in their business,” Indian commerce secretary Sunil Barthwal said during a press briefing. “India’s trade performance in April underscores the robust fundamentals of Indian exports despite global headwinds, including geopolitical tensions, inflationary trends, and supply chain disruptions,” Federation of Indian Export Organisations (FIEO) president S C Ralhan said. India’s merchandise imports in April rose by 19.1% year on year to $64.9 billion, with crude petroleum and products imports up by 25.6% at $20.7 billion, official data showed. Higher imports, particularly of capital goods and energy raw materials, reflects improving domestic demand and capacity expansion, FIEO chief Ralhan said. Meanwhile, trade with the US has increased in April, India’s commerce chief Barthwal said. India expects to conclude the first phase of the trade deal with the US by October this year, with an official Indian team expected to visit the US this month for trade talks. The south Asian nation expects to increase bilateral trade with the US to more than $500 billion by 2030. During his state visit to Qatar on 15 May, US President Donald Trump was quoted in the media as saying that an agreement with India is close. India’s April exports of petroleum products rose by nearly 4.7% year on year to $7.37 billion, while those of organic and inorganic chemicals dropped by around 9.1%, to 2.27 billion. Exports of pharmaceutical products rose by 2.4% to $2.49 billion. April man-made fabrics and yarn exports increased by 4.2% to $383.8 million, while plastics shipments rose by 4.6% to $696.4 million. Meanwhile, April imports of organic and inorganic chemical rose by 10.9% year on year to $2.45 billion, while those of artificial resins and plastic materials rose by 14.2% to $1.95 billion. April fertilizer imports rose by 10% to $653.6 million, while imports of chemical material and products more than doubled to $1.97 billion. Visit the ICIS Topic Page: US tariffs, policy – impact on chemicals and energy.

16-May-2025

LONDON (ICIS)–Ridley Corporation has agreed to acquire Dyno Nobel’s fertilizer distribution business for (Australian dollar) A$300 million, the Australian animal nutrition company said on Monday. The deal to buy IPF Distribution includes an option to acquire its Geelong North Shore property for A$75 million. The Phosphate Hill fertilizer manufacturing operations, and the closure and remediation costs associated with the Gibson Island and Geelong manufacturing operations are excluded from the deal, Ridley said. IPF Distribution is part of Incitec Pivot Fertilisers, a manufacturer and distributor of fertilizers within the wider business of explosives maker Dyno Nobel. Completion of the transaction is expected by Q3 2025 and no later than 30 November, subject to certain agreed conditions.

12-May-2025